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| September 27, 2006
Alcoa Forms Chinese Automotive Casting Alliance with SMW Automotive Hong Kong
NEW YORK--(BUSINESS WIRE)--Alcoa announced today that it has signed an agreement with SMW
Automotive Hong Kong to form an alliance to produce cast aluminum
chassis and suspension components and modules for the automotive
industry in China, South Korea, Japan and the Asia Pacific region.
Under the agreement, Alcoa plans to license its Vacuum Riserless and
Pressure Riserless Casting (VRC/PRC) technology and sell related
production assets.
SMW Hong Kong’s new wholly owned subsidiary,
Alutech Automotive Parts, Ltd. of China, will establish an aluminum
casting plant in Wuhan, Hubei Province, China to supply OEMs in Asia
with cast structural parts using Alcoa's proprietary technology. The
plant is slated to be operational in 2008. In addition, the agreement
provides the framework for both companies to identify, develop and
launch programs.
“This marks our official establishment of a
commercial footprint in China and complements and adds to Alcoa’s
current VRC/PRC aluminum casting capabilities in the U.S. and Europe,”
said Misha Riveros Jacobson, President, Alcoa Auto and Truck Structures.
Alcoa is the world's leading producer and manager of primary aluminum,
fabricated aluminum and alumina facilities, and is active in all major
aspects of the industry. Alcoa serves the aerospace, automotive,
packaging, building and construction, commercial transportation and
industrial markets, bringing design, engineering, production and other
capabilities of Alcoa's businesses to customers. In addition to aluminum
products and components, Alcoa also markets consumer brands including
Reynolds Wrap® foils and plastic wraps, Alcoa®
wheels, and Baco® household wraps. Among its
other businesses are closures, fastening systems, precision castings,
and electrical distribution systems for cars and trucks. The company has
129,000 employees in 44 countries and has been named one of the top most
sustainable corporations in the world at the World Economic Forum in
Davos, Switzerland. More information can be found at www.alcoa.com
SMW Automotive Hong Kong is a wholly owned subsidiary of Concord
International, a privately held Tier 1 supplier of chassis, brake
components and systems headquartered in Troy, Michigan with operations
in the U.S., Canada, France, Brazil, and China.
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